Should specific reference be made for exemptions for employer assisted mortgages or loans by public or international bodies.
Under the Consumer Credit Act mortgage loans made by local authorities are specifically exempt from the regulation of the Act by virtue of Section 16. Lacots therefore believes it is imperative that the Treasury seeks the views of local authorities through their associations the LGA, WLGA, COSLA and ALANI. If it is the intention to exclude such schemes this should be explicitly stated to consumers. Care will need to be taken in the definition of such bodies to avoid exploitation by lenders. 13. Should any category of lender be specifically excluded from the definition? In general Lacots does not support general exemptions from regulation. However, as stated above, Lacots therefore believes it is imperative that the Treasury seeks the views of local authorities through their associations the LGA, WLGA, COSLA and ALANI. Lacots is not aware of any particular problems arising from local authorities’ current exemption. 14. Does it make sense to carve out the FSA authorisation regime from th
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